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Saturday, 04 February 2023 06:11

Buhari to APC govs: Give me 7 days to resolve the Naira issue

President Muhammadu Buhari has implored citizens to give him seven days to resolve the cash crunch that has become a problem across the country from the policy of the Central Bank of Nigeria (CBN) to replace high value Naira notes with new ones. The President made the call Friday while speaking to the Progressive Governors Forum (PGF) who came to the Presidential Villa, Abuja, to seek solutions to the cash crunch which they said was threatening the good records of the administration in transforming the economy. Buhari, in a statement issued by his spokesman, Garba Shehu,said the currency re-design would…

Saturday, 04 February 2023 06:09

FG expects favourable S&P credit rating despite fall in Nigeria’s dollar-denominated bonds

Nigeria's dollar-denominated government bonds fell on Friday ahead of a review of its credit rating by S&P Global, after the West African oil producer was downgraded by another ratings agency, Moody's, a week earlier. Nigeria's bonds dropped as much as 2.659 cents in the dollar, with the 2038 maturity falling the most, down to 69.189 cents, according to Tradeweb data. The bonds had fallen for two days in a row thanks to a combination of global risk-off sentiment and the Moody's downgrade, with the 2038 maturity's price falling as low as 68.528 cents. It then recovered to as high as…

Saturday, 04 February 2023 06:05

US scrambles fighter jets as Chinese ‘spy’ balloon floats across country

A huge, high-altitude Chinese balloon sailed across the U.S. on Friday, drawing severe Pentagon accusations of spying on sensitive military sites despite China’s firm denials. Secretary of State Antony Blinken abruptly canceled a high-stakes Beijing trip aimed at easing U.S.-China tensions. Aside from the government response, fuzzy videos dotted social media as people with binoculars and telephoto lenses tried to find the “spy balloon” in the sky as it headed southeastward over Kansas and Missouri at 60,000 feet (18,300 meters). It was spotted earlier over Montana, which is home to one of America’s three nuclear missile silo fields at Malmstrom…

Saturday, 04 February 2023 06:04

What to know after Day 340 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Pentagon allows Ukraine to fire long-range missiles at will It is up to the government in Kiev to decide how to use the new rockets for the US-supplied HIMARS launchers, the Pentagon said on Friday, confirming that the latest batch of munitions the American taxpayers are funding will include Ground Launched Small Diameter Bombs (GLSDB). The Boeing-manufactured munitions consist of a rocket motor mated with an airplane bomb, with an estimated range of up to 150 kilometers. While Friday’s announcement listed “additional ammunition” for the HIMARS and “precision-guided rockets,” Brigadier-General Patrick Ryder told reporters that this indeed included…

Friday, 03 February 2023 05:59

Biden offered Putin 20 percent of Ukraine to end war - Report

A CIA official told Newsweek that claims in the report from Swiss-German newspaper Neue Zürcher Zeitung (NZZ) that Burns took a secret trip to Moscow in January and that there was a peace proposal put forward by the director on behalf of the White House were "completely false." Last month, Burns traveled in secret to meet and brief Ukrainian President Volodymyr Zelensky in Kyiv, The Washington Post reported. Burns is said to have submitted the plan in mid-January to put an end to the war, which began on February 24, 2022. The story was reported by NZZ on Thursday, citing…

Friday, 03 February 2023 05:57

What to know after Day 339 of Russia-Ukraine war

WESTERN PERSPECTIVE EU-Ukraine wartime summit to deliver on some issues, disappoint on others European Union leaders will meet Ukrainian President Volodymyr Zelenskiy in Kyiv on Friday, bringing the promise of new sanctions against Russia but disappointing Ukraine's hope for swift membership to the EU. The head of the group's executive commission, Ursula von der Leyen, arrived in Kyiv by train on Thursday, a symbolic journey to demonstrate support for Ukraine as the first anniversary of Russia's Feb. 24, 2022, invasion of its neighbour approaches. Senior members of the EU's executive met their counterparts in the Ukrainian government, and von der…

Thursday, 02 February 2023 05:48

What to know after Day 338 of Russia-Ukraine war

RUSSIAN PERSPECTIVE Putin emphasizes need to prevent Ukrainian forces from shelling Russian border regions Russian President Vladimir Putin called it a priority to make sure that Ukrainian forces don’t have an opportunity to bombard Russian border regions. "Of course, the priority is to eliminate the possibility of bombardments, but that’s up to the defense ministry," he said in his opening remarks at a meeting dedicated to rebuilding the housing infrastructure in the country’s border regions that had been ruined in emergencies. He said the meeting will focus on "supporting the residents of Crimea, the Belgorod, Bryansk and Kursk regions, whose…

Wednesday, 01 February 2023 05:50

Nigeria gets worst corruption rating under Buhari - Report

Nigeria has fallen four places on the latest Corruption Perception Index (CPI) ranking released by Transparency International (TI) on Tuesday. Although the country maintained its previous year’s score of 24 out of 100 points, it fell from 150th to 154th position out of 180 countries assessed in the 2022 ranking. The CPI is TI’s tool for measuring the levels of corruption in the systems of various countries around the world. The maximum points a country can score is 100 points, and the least is zero. Zero signifies the worst-performing country and 100, is the best-ranked. The latest ranking may be…

Wednesday, 01 February 2023 05:48

CBN will accept old naira notes after deadline - Emefiele

Godwin Emefiele, governor of Central Bank of Nigeria (CBN), says the bank will continue to accept old naira notes after the stipulated deadline. Emefiele spoke on Tuesday when he appeared at an interactive session with theHouse of Representatives ad hoc committee on the currency redesign and naira swap policy. He said the CBN will also accept the old naira from banks after the February 10 deadline. Emefiele made reference to the CBN act which mandates the apex bank to continue to accept old notes after its expiration. However, the CBN governor did not mention a duration when the banks will…

Wednesday, 01 February 2023 05:45

Elon Musk’s SpaceX makes formal announcement of Starlink’s operation in Nigeria

Space Exploration Technologies Corporation, SpaceX, on Monday announced that it has commenced the operation of Starlink services in Nigeria, the first African country to receive such. Starlink is a satellite internet constellation operated by SpaceX launched in 2019. It provides satellite internet access coverage to about 46 countries, which is also targeting the global mobile phone service after 2023. “Starlink is now available in Nigeria – the first African country to receive service!” a tweet posted on the official page of the satellite firm read. SpaceX is an American spacecraft manufacturer, launcher, and a satellite communications corporation headquartered in California.…

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Wednesday, 01 February 2023 05:44

What to know after Day 337 of Russia-Ukraine war

WESTERN PERSPECTIVE U.S. readies $2 billion-plus Ukraine aid package with longer-range weapons The United States is readying more than $2 billion worth of military aid for Ukraine that is expected to include longer-range rockets for the first time as well as other munitions and weapons, two U.S. officials briefed on the matter told Reuters on Tuesday. The aid is expected to be announced as soon as this week, the officials said. It is also expected to include support equipment for Patriot air defense systems, precision-guided munitions and Javelin anti-tank weapons, they added. One of the officials said a portion of…

Tuesday, 31 January 2023 05:41

Angry youths stone Buhari’s helicopter, motorcade as president commissions projects in Kano

Some youths on Monday pelted the aircraft and advance motorcade of President Muhammadu Buhari with stones during the president’s visit to Kano state on Monday. The president had arrived in Kano around 10am to put an end to a back and forth between the Kano state government and the presidency on whether or not the president would keep to his scheduled visit to Kano following reports of protest against his visit to Katsina state last week as a result of the perceived maladministration of the government he heads. But despite their action, the president commissioned numerous projects such as the…

Tuesday, 31 January 2023 05:39

NRC announces resumption of Abuja-Kaduna train service, gives new schedules

Nigerian Railway Corporation (NRC) says it would resume train services on the Abuja-Kaduna rail corridor on Tuesday (today). This is coming a few days after NRC suspended operations on the route following the derailment of a train. Niyi Alli, director of operations, NRC, announced the resumption of the Abuja-Kaduna train services in a statement on Monday. “The board and management of Nigerian Railway Corporation are pleased to announce the recommencement of the Abuja-Kaduna train service,” the statement reads. “The service was suspended on January 27, due to the derailment that occurred at Kubwa station on the same date. “Subsequently, the…

Tuesday, 31 January 2023 05:38

NUC approved 19 varsities in 2022. Here’s the ownership breakdown among Federal, states and private entities

Data from the National Universities Commission revealed that no fewer than 19 federal, state and private universities were approved for operations between January and December 2022. A breakdown of the 19 approved universities shows that only one federal university, King David Umahi University of Medical Sciences, in Uburu, Ebonyi State, was approved in 2022. Further analysis revealed that a total of six state universities were approved in 2022. Lagos University of Education, Ijanikin; Lagos University of Science and Technology, Ikorodu; Shehu Shagari University of Education, Sokoto; Enugu State University of Medicine and Applied Sciences, Igbo-Eno; and Emmanuel Alayande University of…

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